The subsidiary of Samvardhana Motherson International Ltd. (SAMIL) announced that it had reached an agreement to acquire a 100 percent stake in SAS Autosystemtechnik GmbH, which is based in Germany and has a business value of 540 million euros.
According to Motherson, Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a 100% subsidiary of Samvardhana Motherson International Limited (SAMIL), has agreed to acquire Faurecia, a member of the FORVIA Group (an entity listed on the Paris stock exchange), for a total stake of 100% in SAS Autosystemtechnik GmbH (Germany).
Assembly and logistics services for the automotive industry are provided by SAS Autosystemtechnik. For the year that ended on December 31, 2022, its principal gross revenues were approximately 4.4 billion euros, and its net revenues (IFRS) were 896 million euros. Almost half of these revenues came from EV programs.
Over the next three years, the orders already secured will generate a cumulative net revenue of more than 3 billion Euros. It has in excess of 5,000 workers in more than 24 assembling areas in Europe, Asia, and America.
Debt and internal accruals will be used to fund the transaction. They have always added new technologies and products to better and more closely serve their customers. The significant first step in this direction is the acquisition of SAS. Chairman of Motherson Vivek Chaand Sehgal stated that SAS will be able to further enhance our tier 0.5 position with their customers by adding complementary capabilities. Their product and customer bases will become even more diverse as a result of this acquisition.
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